Rio Tinto sees iron production tick up on rising China demand January 19, 2021 Mining giant Rio Tinto said that iron ore production had increased in the final quarter of the year on the back of increased demand from China. The Anglo-Australian company said that output from its Pilbara iron assets had risen 3.0 per cent in the last three months despite the challenges of Cyclone Damien and the [...]
Rio Tinto appoints new chief exec after sacred cave destruction scandal December 17, 2020 Rio Tinto has announced that Jakob Stausholm will become the mining giant’s new chief executive after his predecessor stood down following the destruction of a sacred cave system in Australia. Stausholm, the FTSE 100 firm’s finance chief, will take the top job after Jean-Sebastien Jacques fell on his sword amid intense pressure. The destruction of [...]
Rio Tinto should pay reparations for sacred cave destruction, inquiry finds December 9, 2020 Mining giant Rio Tinto should pay reparations to indigenous Australians for the destruction of two sacred caves, an inquiry into the incident has found. The FTSE 100 company has been the subject of fierce criticism since it decided to destroy the 46,000-year old Jukkan Gorge site in Western Australia in order to expand an iron [...]
Rio Tinto could destroy another 124 Aboriginal sites September 21, 2020 Mining giant Rio Tinto is expected to destroy another 124 Aboriginal heritage sites in Australia, an inquiry into the destruction of the 46,000-year-old Jukkan Gorge sites has been told. Speaking to a parliamentary panel about the incident, archaeologist Anna Fagan said that the Western Ranges iron ore development project would do much more damage to [...]
Future of Rio Tinto boss in doubt after Aboriginal cave destruction September 9, 2020 The future of Rio Tinto chief executive Jean-Sebastien Jacques is under intense scrutiny after reports that the firm’s board will discuss his tenure at a meeting this week. The FTSE 100 company is under pressure from investors to give executives additional penalties for the destruction of Aboriginal heritage sites in Australia. According to Bloomberg, the [...]
Rio Tinto boss has bonus slashed by millions after mining giant destroys Aboriginal caves August 24, 2020 The boss of FTSE miner Rio Tinto will have his bonus reduced by £2.7m after the company destroyed sacred caves in Australia. Chief executive Jean-Sebastien Jacques and two other executives will take the financial hit after the company destroyed two caves in Western Australia – against the wishes of Aboriginal traditional owners – as part [...]
FTSE miners lead recovery as China’s infection rate slows March 13, 2020 FTSE miners led London’s blue-chip index higher today as traders welcomed a lower rate of new coronavirus infections in China. Evraz, BHP, Anglo American, Glencore and Petra Diamonds all posted double-digit gains as the FTSE 100 surged over eight per cent higher following yesterday’s record sell-off. Online trader IG analyst Joshua Mahony linked the jump [...]
Rio Tinto returns record dividend as firm warns of coronavirus impact February 26, 2020 Rio Tinto today returned a record final divided of $3.7bn as the Anglo-Australian mining giant thanked the strength of its “world-class portfolio and balance sheet” for helping it through the “current volatile environment”. However, the FTSE 100 firm warned that it was “closely monitoring the impact of the Covid-19 coronavirus and [is]prepared for some short-term [...]
Rio Tinto blames the weatherman as iron ore shipments slip January 17, 2020 Rio Tinto posted a quarter-on-quarter climb in iron ore shipments for the end of 2019, when they hit 86.8m tonnes in the fourth quarter. That represented a one per cent rise on the third quarter despite a four per cent drop in production to 83.6m tonnes. But over the full year, production and shipment figures [...]
BHP iron production rebounds after cyclone hit third quarter July 17, 2019 Anglo-Australian miner BHP saw iron ore output rebound in the fourth quarter of the year, and forecast even higher production going forward. Iron ore production hit 63m tonnes in the three months to June, a 12 per cent increase on the quarter before. Read more: Rio Tinto faces delays and up to $1.9bn added costs [...]